I hope one of the experts may be able to help.

[poppy6]

I hope one of the experts may be able to help.
We have just completed year 2 of our IVA and are in the process of having our yearly review.
When we started the IVA the overtime clause was not in our agreement. Over the last year I have worked quite a bit of overtime so my pay has been higher that I declared on my last review. I was totally unaware that I should have been letting my supervisor know about this overtime as this was not in my agreement.
I have now been advised that I need to repay a large amount as I have earned too much over the past year. When I queried this and mentioned that I did not know of any overtime clause, I was advised that it is in the IVA Protocol Standard Conditions!
I don't have a clue what this means but I do know that it is not included in my agreement.
I would be really grateful for any help or advice with this. Should I be liable for repaying this?
Many thanks

[Broke of London]

Ask your IP to go through your proposal and show you where the overtime clause is. It is unusual not to have an overtime clause but not unheard of. If you don't have the clause, you aren't liable to pay anything additional. It's no point your case officer quoting standard protocol to you as it is meaningless if your proposal isn't protocol compliant!! The answer will lie in your proposal only.

[Shining]

Hi there, can you come to an arrangement with your IP to repay the amount over the next few months?

Generally all this should be written in your proposal and discussed with your IP before the IVA commences?

One of our experts will be along soon with some good advice. x

[plasticdaft]

When you say it wasnt in the agreement do you mean it wasnt mentioned or its not down in writing in your proposal?

Paul

[poppy6]

Thanks for your advice. I gone back through my proposal again and there is no mention at all about overtime payments. I genuinely had no idea about the overtime clause. It is not in the proposal and was not mentioned verbally either until now.

[Broke of London]

If the clause isn't in your iva, I don't think they can force you to pay over a % of your overtime. Ask your case officer to read your paperwork and explain exactly which clause they referring to. They may not have read your proposal in a while and simply be drawing on general, not case specific, knowledge.

[plasticdaft]

I would be very tempted to contest this if nothing is down in your proposal about overtime. What you may find is that it has been mistakenly left out.

Who are you with?

Paul

[poppy6]

If it has been mistakenly left out, where would that leave me? Thanks.

[Broke of London]

It would leave you with nothing to pay.

[plasticdaft]

I think whats more likely to happen is your IP would propose a variation to creditors to realise the best return for them,which after all is their job.

BoL what if a client was to forget about a debt then go running to the IP to ask to have it included?? (happens frequently). If the IP turned around and said nope you forgot it so tough you wouldnt be impressed.

If I were the IP I would look to disgard any claim on overtime so far but use the 10% then 50/50 split for future monies.

Paul

[poppy6]

Thanks Paul.

I would be quite happy to agree to a variation and use the 10% then 50/50 split going forward. I just dont think its fair that I'm being asked to repay something I was not aware of.

[Broke of London]

Don't forget Paul, the creditors accepted the ova without any overtime. Why would the IP challenge the status quo without direction from the creditors? It's not their place.

[plasticdaft]

BoL its the IPs job to supervise the IVA over the whole term of it and if a mistake has been made they will rectify it.

Love to get Mels take on this though.

Paul

[poppy6]

I would love to get Melanie's opinion on this too!

[Broke of London]

It would be good to hear from Mel but my understanding is that the IP supervises the iva within the terms agreed by the debtor and creditors. As both parties have accepted the terms proposed, then there is no requirement for the IP to vary terms unless the debtor or creditors request it.